The Robin Hood Effect

The rich should recycle their money, Rubinstein says, but they can't change the world.

  • Transcript

TRANSCRIPT

Well, I do think that people who have money have an obligation to recycle their money to other people in society who are probably less fortunate. I do think that it’s unrealistic, though, to think that anything that rich people are going to be able to do overnight is gonna transform the world. Most of the people who live in the world are living at the poverty line or below. And so it’s not realistic in my view that no matter how much money other people might give away, all of a sudden we’re gonna eliminate poverty. I do believe, though, that people who have a great deal of wealth have a responsibility to society, and to themselves, and to their own children, and to their grandchildren to do something to make the world a little bit better, and to help people who are not as fortunate. Yes.

Recorded on: 9/13/07